Best Short Term Option for Electricity

tightauldgit

Hi All

My fixed term electricity contract is up in October and I'm just looking at what the best option would be. Current estimated usage is stated at 2000kwh of electricity and 7700 kwh of gas. I know that right now the variable rate with the cap will be cheaper than a fixed term option but in the long run that will reverse.

What I've been offered to renew on a 12 month fix is 

Unit rate	67.704p per kWh
Standing charge	43.39p per day

Now... the slight complication is that I reckon I'm moving out of this place early 2023 (aiming for Jan) so I might only be on my new tariff for 3 or 4 months. 

That being the case I'm thinking that it's probably better to just stay on the cap rate? But am I missing something?

tightauldgit

Forgot to put the gas tariff in:

Unit rate 16.9638p per kWh Standing charge 27.22p per day

macman

You said that it's only your electricity contract this is ending, not your gas?
There are no cheaper fixes than the cap at present, so just default to SVT under the cap.
The next cap increase won't happen until Jan 1st next year, so you know exactly what you will be paying on SVT almost until you move out. 

tightauldgit

macman said:

You said that it's only your electricity contract this is ending, not your gas?
There are no cheaper fixes than the cap at present, so just default to SVT under the cap.
The next cap increase won't happen until Jan 1st next year, so you know exactly what you will be paying on SVT almost until you move out. 

Yeah sorry its both gas and electric

pochase

Most suppliers have stopped allowing those who move properties to take a fixed tariff with them. This is within their rights, your contract is for your property and not for you personally.

If this is the case for your supplier you would pay the higher unit rates for the next 4 months, and than go back onto SVT once you would start saving money.

tightauldgit

pochase said:

Most suppliers have stopped allowing those who move properties to take a fixed tariff with them. This is within their rights, your contract is for your property and not for you personally.

If this is the case for your supplier you would pay the higher unit rates for the next 4 months, and than go back onto SVT once you would start saving money.

Thats what I thought. SVT it is for now then.